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Intro to Austin
FUNDRAISINGby @joshuaBaer
Joshua BaerFounder & Executive Director
Disclaimer
Disclaimer
Im not a lawyer
Disclaimer
Im not a lawyer Im not a financial advisor
Disclaimer
Im not a lawyer Im not a financial advisor This isnt investment advice
people move here every day150
top of every list
Whats different about Fundraising in
Austin?
Bootstrap first
revenue focused
EXPERIENCEDTeams
How to meet investors1. Leverage your personal network
2. Go where the investors are - bars, coffee shops, events, Capital Factory
3. Follow them on Twitter 4. Create an AngelList profile (and email it to me) 5. Post to Austin Angel Investors Facebook group 6. Office Hours with CTAN 7. Epic Office Hours at Capital Factory 8. Apply for an Accelerator
9. Participate in pitch events and competitions
Startup Lawyers
KHGR Evan Kastner Jones-Spross Brian Spross Wilson Sonsini (WSGR) Brian Beard & Paul Tobias Andrews-Kurth Matt Lyons DLA Piper Paul Hurdlow Sprinkle Law Steve Sprinkle (IP) Jose Ancer
venture capital
Silverton Partners @Jon_Bassett, Morgan Flager Live Oak Venture Partners @VShamapant (Venu) Mercury Fund @TexasVC (Aziz Gilani) @NedHill S3 Ventures (enterprise + health) @RajivBala Sante Ventures (biotech) Kevin Lalande Offset Ventures Chris Pacitti (Austin Ventures)
venture capital
500 Startups @DaveMcClure Disruption @PaulSingh ff Ventures @John_Frankel First Round @JoshK (Kopelman) FLOODGATE @M2Jr (Mike Maples, Jr.) Mohr Davidow @BDStolle (Bryan Stolle) Sutter Hill Ventures @SamPullara
Angel investors
Capital Factory Fund @JoshuaBaer @MelliePrice @AndrewBusey ATXSeed Chris Shonk Individual Angels @RossInAustin (Ross Buhrdorf) @BazaarBrett
(Brett Hurt) @maharg (Dan Graham) @seats (Jason Seats) @AmericanCEO (Joel Trammell) @DeepEddyCEO (Clayton Christopher), Rony Kahan, Joe Liemandt, Tom Meredith
One of the most active angel groups in the country Not just tech Quarterly application cycle Monthly office hours Rick Timmins is the Chairman (and CF Mentor) Claire England is the new Executive Director
Find investors, introductions & advice at
Epic office hours
office Hours
Think of this as speed dating Dont expect them to commit on the first date Research their background beforehand Professional on LinkedIn Investments on AngelList Personality on Twitter and Facebook
Ask for a followup meeting to show progress
Accelerators Austin Technology Incubator (UT affiliated) @ATI_UT Bunker (veterans) @TheBunkerAustin Capital Factory (tech) @CapitalFactory @JoshuaBaer International Accelerator @IntlAccelerator Longhorn Startup Lab (UT Austin students) @LonghornStartup SKU (consumer packaged goods) @SKUatx (formerly Incubation Station) SXSW Accelerator Techstars (tech) @Techstars @Seats Medical Innovation Labs (medical devices) Unltd USA (social good) @UnLtdUSA
Intro to Austin Accelerators 2nd Tuesday of each month at 4pm
Pitch Events Texas Venture Labs Investment
Competition (February)
SXSW Accelerator (March) Capital Factory Demo Day at
SXSW (March)
Techstars Demo Day (June 2015?)
Global Venture Labs Investment Competition (May)
Capital Factory Demo Day at Startup Week (October)
Innotech Beta Summit (October) SKU Demo Day ATI Clean Tech & Wireless
Forums
CTAN Presentation Day (5x) House of Genius
Blogs Paul Graham - How to Raise Money
paulgraham.com/fr.html
VentureHacksventurehacks.com/archives
Wealthfront - VC Economicsblog.wealthfront.com/venture-capital-economics/
Brett Hurt - Lucky7 lucky7.io
Gordon Daugherty - Shockwaveshockwaveinnovations.com
Kip McClanahan - ReOverthinkingreoverthinking.com
Jos Ancer - Silicon Hills Lawsiliconhillslawyer.com
Joshua Baer - Austinpreneuraustinpreneur.com
capital factoryAustins Center of Gravity for Entrepreneurs
Last year 32,000 entrepreneurs, programmers and designers gathered day and night for meetups, classes and coworking.
Entrepreneurs come to Capital Factory to Hone skills meetups and hackathons Find a co-founder Build a Minimum Viable Product Meet angel investors and VCs Find lighthouse customers Keep costs low Grow your team
46,000 Square Feet full of
Entrepreneurs
programmers and entrepreneurs
700 Meetups and Hackathons
32,000
classroom teaching skills startups need
Some of the meetups
THe Blueprint
Community Center Coworking pace Mentoring Fund
VIDEO STREAMING Follow @Austintechlive
coworking starts at $200/month
As your company starts to grow reserve
Dedicated Desks
Private offices Sound proof and secure
Private offices teams from 2-10 people
phones and tablets available in the
Device Lab
Google glass available in the
Device Lab
DEVICE Lab 3D Printers and more
DEVICE Lab 3D Printers and more
Find investors, introductions & advice at
office hours
Peer Roundtables Learn from other entrepreneurs
SXSW and startup week
demo dayS
sxswStartup Village
Happy hours bringing people together
DENSITY DRAWS IN EVERYONE THAT STARTUPS WANT TO MEET
VIP Guests Bram Cohen, founder of BitTorrent Michael Dell, founder of Dell Richard Garriott, founder of Ultima Online Bob Metcalfe, inventor of Ethernet Alexis Ohanian, founder of Reddit Peter Thiel, founder of Paypal Slash, Guns & Roses Stephen Wolfram, founder of Mathematica
Accelerator
Introductions to angel investors, mentors, customers, strategic partners, employees
First priority on offices and desks at Capital Factory Access to $50,000+ in matching funds
from Capital Factory, Silverton, FLOODGATE and our AngelList Syndicate
Cratejoy Syndicate
Revolutionizing the $24 Billion self storage industry
180 employees - $26 million funding insight Partners
wordpress hosting Platform for business
150 employees - $18 million funding Northbridge
$6 Million Funding CHarles River Ventures, A16Z
Lots more Aceable Goodybag Chiron Health Zing Nuve Pristine.io Smart Picture Tech
Lynx Laboratories LanternCRM Impossible Ventures eRelevance Corp Pingboard Togga Curb
Kenguru Aunt Bertha Weeva RealMassive ManagerComplete ihiji TripChamp
Apply online
Coworking http://capitalfactory.com/join
Accelerator http://angel.co/capitalfactory/apply
Back the Syndicate http://angel.co/capitalfactory/syndicate
equity or Convertible note?
Most companies begin with a convertible note and then do a priced round (then repeat)
Convertible notes are entrepreneur-friendly Only do a priced round with an experienced investor to
lead and set the price
SAFE docs
Valuation
Average is $3m On a note, think of the cap as the valuation Higher because of traction or track record - up to $8m Higher because it is capital intensive If you have to justify it, then its too high Bigger is not always better
time
Usually takes 6-12 months Really fast is 2-3 months If only 2-3 investors can happen in 1 month Sometimes drags out over 18 months Entrepreneurs usually think its going to happen faster
Get used to hearing
NO
Say youre going to do something. then do it.
if you found this helpful Please help
someone elsehttp://atxstartupscene.com
ask me anything Angel Investors Venture Capital Incubators/Accelerators Banks Lawyers Dev Shops Associations Hack-a-thons
Finding a Co-Founder Blogs Hardware Women in Tech Capital Factory Where do investors
hang out?
Entrepreneur training
ATI SEAL Rice Alliance Entrepreneurs Workshop Tech Ranch VentureForth
General Assembly IronYard MakerSquare
Banks
Chase Jonathan Lee, chase.com Silicon Valley Bank Jonathan Miller Square 1 Bank Comerica
paperwork
Company Formation Bank Account Vesting Docusign
Up and coming DrillingInfo Edgecase Eagle Eye Networks Impossible Ventures Main Street Hub Outbound Engine PostUp
Spredfast Sparefoot.com Spiceworks Umbel uShip WP Engine
Recent Success
Black Locus > Home Depot Dachis Group > Spriklr Food on the Table > Food Network Gazzang > Cloudera Mass Relevance > Spredfast MapMyFitness > Under Armor Ridescout > Car2Go Spanning > EMC
First Time
Experienced teams
Syndicates
angels vs. VCs
Crowdfunding Kickstarter Indiegogo Able
Onevest Microventures
Lines not dots
Austin Startupshttp://facebook.com/groups/austinstartups
Capital Factory Members http://facebook.com/groups/cfcoworking
Austin Angel Investors http://facebook.com/groups/atxangelinvestors
COST
At least $5,000 in legal fees, as much as $100,000 Consumes a lot of time. Meetings after meetings.
Smart Money
Brings some benefit other than the cash Introductions to customers Relevant industry experience Help with recruiting talent
Bad Money
Comes from illegal source Pain in the ass Unresponsive
if you found this helpful Please help
someone elsehttp://atxstartupscene.com